SOYBEAN MEAL FULL0724 - Weekly - Technical analysis published on 10/14/2023 (GMT)
- 128
- 0
- Timeframe : Weekly
- - Analysis generated on
- Status : NEUTRAL
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Slightly bullish
Technical indicators
33%
39%
28%
My opinion
Neutral between 362.9 USD and 427.3 USD
My targets
-
My analysis
The short-term decline on SOYBEAN MEAL FULL1223 remains moderate but it could call into question the slightly bullish basic trend. It is difficult to advise a trading direction under these conditions. The first support is located at 362.9 USD. The first resistance is located at 427.3 USD. You could remain on the sidelines waiting for a more pronounced price movement on this instrument. A new analysis could then be carried out to provide clearer signals.
In the very short term, technical indicators are neutral and are not able to influence the opinion of this analysis.
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by julian2023. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
SOYBEAN MEAL FULL1223 rating 390.0 USD. Over 5 days, this instrument gained +4.81% with the lowest point at 371.8 USD and the highest point at 399.0 USD. The deviation from the price is +4.90% for the low point and -2.26% for the high point.371.8
399.0
390.0
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Weekly of this SOYBEAN MEAL FULL1223 chart shows a slightly bullish trend. 53.57% of the signals given by moving averages are bullish. Caution: the slightly bearish signals currently given by short-term moving averages indicate that the overall trend could be reversed. The Central Indicators market scanner is currently detecting several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 100
Type : Bullish
Timeframe : Weekly
Bullish price crossover with adaptative moving average 50
Type : Bullish
Timeframe : Weekly
Bullish price crossover with adaptative moving average 100
Type : Bullish
Timeframe : Weekly
On the 18 technical indicators analysed, 6 are bullish, 5 are neutral and 7 are bearish. Caution: the Central Indicators scanner currently detects an excess:
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : Weekly
CCI indicator: bullish divergence
Type : Bullish
Timeframe : Weekly
MACD indicator: bullish divergence
Type : Bullish
Timeframe : Weekly
RSI indicator: bullish divergence
Type : Bullish
Timeframe : Weekly
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Bullish engulfing lines
Type : Bullish
Timeframe : Weekly
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 272.4 | 329.2 | 382.4 | 390.0 | 427.3 | 488.1 |
| Change (%) | -30.15% | -15.59% | -1.95% | - | +9.56% | +25.15% |
| Change | -117.6 | -60.8 | -7.6 | - | +37.3 | +98.1 |
| Level | Major | Minor | Major | - | Major | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 366.1 | 372.0 | 382.5 | 388.4 | 398.9 | 404.8 | 415.3 |
| Camarilla | 388.4 | 389.9 | 391.4 | 392.9 | 394.4 | 395.9 | 397.4 |
| Woodie | 368.3 | 373.2 | 384.7 | 389.6 | 401.1 | 406.0 | 417.5 |
| Fibonacci | 372.0 | 378.3 | 382.2 | 388.4 | 394.7 | 398.6 | 404.8 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 349.4 | 358.0 | 365.0 | 373.6 | 380.6 | 389.2 | 396.2 |
| Camarilla | 367.8 | 369.2 | 370.7 | 372.1 | 373.5 | 375.0 | 376.4 |
| Woodie | 348.7 | 357.6 | 364.3 | 373.2 | 379.9 | 388.8 | 395.5 |
| Fibonacci | 358.0 | 363.9 | 367.6 | 373.6 | 379.5 | 383.2 | 389.2 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 344.9 | 362.9 | 372.0 | 390.0 | 399.1 | 417.1 | 426.2 |
| Camarilla | 373.8 | 376.2 | 378.7 | 381.2 | 383.7 | 386.2 | 388.7 |
| Woodie | 340.6 | 360.7 | 367.7 | 387.8 | 394.8 | 414.9 | 421.9 |
| Fibonacci | 362.9 | 373.2 | 379.6 | 390.0 | 400.3 | 406.7 | 417.1 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 46.70 | |
| MACD (12,26,9): | -7.5000 | |
| Directional Movement: | -0.7 | |
| AROON (14): | -71.5 | |
| DEMA (21): | 387.0 | |
| Parabolic SAR (0,02-0,02-0,2): | 423.2 | |
| Elder Ray (13): | -7.3 | |
| Super Trend (3,10): | 432.2 | |
| Zig ZAG (10): | 390.7 | |
| VORTEX (21): | 0.9000 | |
| Stochastique (14,3,5): | 21.50 | |
| TEMA (21): | 380.8 | |
| Williams %R (14): | -58.40 | |
| Chande Momentum Oscillator (20): | -17.8 | |
| Repulse (5,40,3): | 0.5000 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.3000 | |
| Courbe Coppock: | 3.70 |
| MA7: | 380.3 | |
| MA20: | 383.5 | |
| MA50: | 392.0 | |
| MA100: | 394.1 | |
| MAexp7: | 387.8 | |
| MAexp20: | 396.3 | |
| MAexp50: | 399.4 | |
| MAexp100: | 382.0 | |
| Price / MA7: | +2.55% | |
| Price / MA20: | +1.69% | |
| Price / MA50: | -0.51% | |
| Price / MA100: | -1.04% | |
| Price / MAexp7: | +0.57% | |
| Price / MAexp20: | -1.59% | |
| Price / MAexp50: | -2.35% | |
| Price / MAexp100: | +2.09% |
Quotes :
-
10 min delayed data
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CBOT Futures
This member declared not having a position on this financial instrument or a related financial instrument.
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